BY TYLER DURDEN
THURSDAY, MAR 12, 2026 – 09:40 AM
Summary:
- Trump: Iran paying a ‘big price’ right now; situation ‘moving along rapidly’
- Netanyahu confirms hitting IRGC and Basij checkpoints, in effort to ‘topple regime’
- Iran’s top security official to Trump: ‘we will not relent until you are sorry’
- Oil pares gains after report that Iran lets some ships cross strait, denies mining Hormuz
- Bloomberg: Trump admin set to temporarily suspend Jones Act shipping rules to help cool rising oil prices.
- Ayatollah Mojtaba in first public message says the closure of the Strait of Hormuz should be continued as a tool to pressure the enemy
- Mojtaba vows to keep attacking US bases, and signals ‘new fronts’ could soon open
- President Trump simultaneously says the US is stopping Iran "from having Nuclear weapons" and "destroying" the Middle East and "the World".
- Shipping turmoil escalates as multiple vessels (at least six) struck overnight
- Brent crude oil prices top $100 amid "the largest supply disruption in the history of the global oil market," the IEA reports.
- Energy Secretary Chris Wright says the US Navy is not yet ready to escort tankers through the Strait of Hormuz, as military assets remain focused on degrading Iran’s offensive capabilities.
- Dubai suffers significant drone attacks
- Northern Israel hammered by Hezbollah, "largest wave" of missiles since war began
- IDF says it struck key Iranian nuclear development site
- US Intel assesses Iranian regime remains intact
- Oman port operations halted
- Trump proclaims "we won"
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